GBP/USD Forecast. Technical Analysis

forex_news_gbp_84 hour

The GBP/USD could be building a correction within wave 2 (blue).

A bearish breakout below support (green) could confirm wave 3 (red) but a break above the 100% Fib level invalidates wave 2 (blue).

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The GBP/USD needs to break below support (blue/green) to confirm a potential wave 3 (blue). The Fibonacci levels of wave 2 (blue) could act as resistance.

Origin: Admiral Markets

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